In this episode, we discuss what to look for before you purchase a property, and in particular what to look for if you want to add value to the property.
We start off by recommending QV, a New Zealand based property website that allows you to check data about any suburb in New Zealand, including seeing what properties have sold in a suburb and for how much. This is very useful when considering what a property is actually worth.
We also discuss the difference between GV/CV/RV and the actual value of a property. Often investors will talk about what a property is worth relative to its Government Valuation. However, because the GVs can be so wildly inaccurate (since they are set by computer algorithm), they can give a false reading for any property that has had non-consented cosmetic work completed.
We also mention the Opes Partners Instagram. Every few days we release a new carousel post that gives you additional insight into the property market. Make sure to follow us there, we are @opes_partners.
The Property Academy Podcast